Automated Parking System (APS) Market is Growing in Huge Demand from 2020 to 2026 | Wohr, Klaus Multi Parking, CityLift and more

Automated Parking System (APS) Market Size- USD 1.21 Billion in 2018, Growth- CAGR of 12.4%, trends- strong demand for consumer comfort and convenience, increasing demand for high-rise building, Europe expected to register the highest market share during the forecast period

Increasing number of vehicles, lesser land for parking, growing demand for green & sustainable parking solutions, and smart cities initiatives from the government will drive the market at a high CAGR during the forecast period.

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The Automated parking system (APS) market was valued at USD 1.21 billion in 2018 and is projected to witness a growth of 12.4% of CAGR during the forecast period (from 2018 - 2026). The major drivers of the growths are - Increasing number of vehicles, lesser land for parking, growing demand for green & sustainable parking solutions, strong demand for consumer comfort and convenience, increasing demand for high-rise building, and smart cities initiatives from the government.

An automated parking system (APS) is a mechanical system designed to optimise the area or volume required for parking vehicles. Like a multi-story parking space, an automated parking system (APS) provides parking for vehicles on multiple levels stacked vertically to maximize the available number of parking spaces while minimizing area usage. The automated parking system (APS), utilizes a mechanical system to transport vehicles to and from parking spaces in order to reduce space wasted in a multi-story parking. While a multi-story parking lot is similar to multiple parking lots stacked vertically, an automated parking system (APS) is more similar to an automated storage and retrieval system for cars.

Companies Considered and Profiled
Wohr (Germany), Klaus Multi Parking (Germany), CityLift (the US), Westfalia (Germany), Robotic Parking Systems Inc. (the US), Unitronics (Israel), Kyline Parking AG (Switzerland), Dayang Parking Co ltd (China) Automotion Parking Systems and others.

For the purpose of this study, Reports and Data have segmented the industry by automation level, by structure, by type, by design, by system, by platform, by end user, by parking level and by Region:

Automated Parking System (APS) by Automation Level (Revenue, USD Million; 2016-2026)
Fully Automated
Semi-automated

Automated Parking System (APS) by Structure (Revenue, USD Million; 2016-2026)
AGV System
SILO System
Tower System
Rail Guided Cart (RGC)
Puzzle System
Shuttle System

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Automated Parking System (APS) by Type (Revenue, USD Million; 2016-2026)
Speedy Tower
Rotary Carousel
Optima Parking
Multi Parking
Lift and Slide Parking

Automated Parking System (APS) by End User (Revenue, USD Million; 2016-2026)
Commercial
Residential

Automated Parking System (APS) by Parking Level (Revenue, USD Million; 2016-2026)
Less than Level 5
Level 5 - Level 10
More than Level 10

Automated Parking System (APS) by Region (Revenue, USD Million; 2016-2026)
North America
Europe
Asia Pacific
Middle East and Africa
Latin America

Further key findings from the report suggest-
1. Amongst end user segment, the residential apartment segment is estimated to have an attractive growth owing to the increasing demand for automated parking system (APS) in luxury/ premium residential apartments, an increasing number of high-rise buildings, and builder's focus to build low to zero emission sustainable residential apartment.

2. Unlike a palleted system which generally requires two pallets for parking and vehicle handling systems, a non-palleted system requires only one vehicle handling system. It is expected that a non-palletised type of automated parking system (APS) is capable of reducing vehicle parking cycle time by ~35%

3. Vehicle parking system often has a direct impact on the feasibility of a real estate - residential and commercial projects. The designing of automated parking systems (APS) can help to increase the profitability of the project by offering vehicle parking to be located in areas where conventional vehicle parking would not provide flexibility or offer parking space for lesser number of vehicles

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The report emphasizes the following key questions
Q.1. What are the most lucrative and promising growth prospects for the market?
Q.2. Which sectors are expected to deliver a high growth rate and which industry aspects come into play in this advancement?
Q.3. Which geographies are estimated to exhibit the highest growth and the underlying causes?
Q.4. Which factors are impacting the future of the market and what are the driving factors?
Q.5. What are the hurdles and challenges curtailing the industry's growth in the forecast period?

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This release was published on openPR.